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street is still hurting. unemployment rising. the economy? it's shrinking. gdp contracting last year for the first time in four years and consumer confidence tanking as that payroll tax hike cuts into workers' paychecks. add it all up, is it time to strike calls for more tax hikes? down. i'm brenda buttner, this is "bulls & bears." we've got gary smith, tobin smith, jonas max ferris, and john layfield and susan fox. the white house and democratic leaders still pushing tax hikes. should they be? >> absolutely not, brenda. what i don't understand is how you can propose tax hikes without looking at what the scholars say, the studies say. look, if there was studies out there says raising taxes, great for the economy, i'd get behind it. but you know what, brenda? every single scholarly study for the past 15 years has said one thing: higher taxes, negatively impact growth. it's funny, forget all that, though. if you just look anecdotally, when the left wants to inhibit behavior, whether it's energy consumption or cigarette smoking or any one of the other things they have, what's the very
to last. siemens, answers. >> theu.s.economyinthefourthquarte of. the u.s. economy in the fourth quarter of last year october, november, december contracted by 0. 1%. one-tenth of 1%. it was the first contraction in three years and it rattles financial markets. much of the slippage in gross domestic product, was due to what the u.s. federal reserves describes as quote weather related disruptions and other transitory facts unquote. the central bank is keeping monetary policy on hold. and says n worth of long-term securities a month, until there is a substantial improvement in the outlook for the labor market. also, the cut back in department of defense outlays, is likely to fuel concerns about the size of a slow down and the full economic fallout of the large quote unquote sequester cuts scheduled for a month from now, the start of march. the president's press secretary said this about the sequester. quote, across-the-board cuts to education, to research and development, would have repeat, would have, damaging effects on our economy and our long-term economic prospects. unquote. a growing
to grow the economy, shrink government and create confidence that we are not greece. and, oh, heck, my friend steve kroft lobbed a bunch of softballs at president obama and hillary clinton in his "60 minutes" interview last night. and you know what, folks, we still do not know what happened on that tragic, awful night in benghazi when four people were killed. the administration spun two separate stories, we still don't know the narrative. all that, the "kudlow report" starts right now. >>> first up tonight, it could prove to be the most significant immigration reform in years. bipartisan group of four democratic and four republican senators unveiling their blueprint this afternoon for border security, guest worker cards, more foreign brainiacs and employer verification, maybe even a path to citizenship. cnbc's own eamon javers joins us now with the details. good evening, eamon. >> well, we've almost gotten out of practice at watching bipartisan groups of senators hold press conferences here in washington. that's not something we're used to seeing. in recent months, anyway. but the sena
programs. a lot of these visa programs, especially when the economy's doing really well and there's a lot of jobs available in the country, they fill up pretty quickly. visas for high-skill immigrants , the tech really wants that, wants more of those. you also have the h-2-b visas for foreign workers kind of for nonagricultural seasonal businesses. and you also have the h-2-a visa program which is mostly for agricultural workers. all these visa programs either have an arbitrary cap or are not being used that widely. basically that what businesses is want is they want to adjust these programs to the market so they can kind of rise and fall with demand. >> we thank you for your time today. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2013] >> if you go to most american hivetry textbooks i would also make you a bet, if you go back to the textbooks you had in high high school, you can take me up on my bet, but my bet with you is that in your american history textbooks in high school, if you go to the index, you will find no mention
. china is back and we're seeing the managed triumph of an economy. is that your take? >> pretty clear to me. through wrought the whole concerns about china, which, of course, went on and off all the way through until the late autumn, i was very skeptical about that and i thought we were managing things pretty well. so i was and i remain very relaxed and we'll get the next sets of chinese data in the next week or so. and i'm pretty sure it will show further evidence of china bouncing a bit. .more importantly, that china is slowly adjusting to an economy not so dependent on exports or government investment. and that's what they need and that's what we all want from them. and that is pretty important. >> jim, is it your thought that people should at this point just kind of hold off and pull back and wait and see what happens over the next several months instead of sell in may and go away, is this sell in february and go away? >>. i prefer the sell in may and go away. it has a remarkable rhythm to it. and the fact that a couple of other things successfully passed in january, it's the firs
in april. >> we do begin with a stunning gdp report. the economy contracted to 0.1% in the fourth quarter. first decline since 2009. this as we remain on dow 14,000 watch. the index is fewer than 46 points away from that mark. which hasn't been reached since october 2007. the dow component boeing rising pre-market. it earned $1.28 a share in the fourth quarter, beating wall street estimates. it expects no significant impact from any faa directives involving its 787 dreamliner, and is maintaining its production and delivery forecast. let's get to the gdp number. it is apparent that the economy came to somewhat of a screeching halt in the last two months of the year. >> i think cnbe played a big role. i'll calis a one off number. the reason i call it a one off number is there are way too many companies who reported during this period that did not see this level up -- well, let's just say no growth whatsoever. >> decline. that being said, it may be a one off, but it's still a bit surprising, if not scary. >> well, does it not say that the fed's been right in what it's been doing. >> it does.
proxy for the overall economy. find out how the dow and your investments will be impact the by that release and after the numbers we eke talk. >>> plus, president obama is asking congress to come up and new tax revenues in order to help the deficit. we'll have a conversation with represent dave camp coming up later in the program. stay with us. m charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5411. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media str
solyndra, exxon is more than profitable, and it puts money back into the economy in the form of nearly $37 billion in energy investments. stop making them out to be the bad guys. like you have other successful americans that take pride in a u.s. company being number one in the world. that's a good thing. coming up next, traders seem to love today's jobs nubers, but were they really all that good? our political panel weighs in, and stocks on a roll, lately, topping numbers not seen since 2007. how long will it last, and how high will they go? coming up. coming up. ♪ [ kitt ] you know what's impressive? a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, at's the point of talking if you don't have something important to say? ♪ you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from s
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, and it puts money back into the economy in the form of nearly $37 billion in energy investments. stop making them out to be the bad guys. like you have other successful americans that take pride in a u.s. company being number one in the world. that's a good thing. coming up next, traders seem to love today's jobs numbers, but were they really all that good? our political panel weighs in, and stocks on a roll, lately, topping numbers not seen since 2007. how long will it last, and how high will they go? coming up. coming up. ♪ [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ male announcer ] join the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, it's how we make sense of investing. at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney t
and the economy that's actually shrinks, well, harry reid says this is a recovery. okay. we'll talk about it. "varney and company" is about to begin. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. it's just common sense. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. charles mckinney a -- charl: a bomb goes off in tour key, killing two, one expected to be the bomber. the bomb went off inside the security perimeter. no damage to the embassy reported, and we will bring you update to the story as they come in. now, of course, let's
unemployment at 14.4%. in the words of ed koch, how'm i doing? how's our economy doing right now? >> well, it could be doing a lot better but it's not falling apart. i discount that fourth quarter gdp number. we're expanding but not as much as we like. >> jared, you are not feeling well but here and most important. thank you so much for making it here today because it's jobs report friday and a holiday for you. >> well, i'm feeling better just talking about the jobs day. >> there you go. >> makes my blood race. >> turn that frown upside down. >> two numbers jumped out at me. health care jobs up 23,000. retail jobs up 33,000. are we hiring more people in the retail sector because people are starting to send money and need more people to help them spend that money? we starting to see more people in the health care sector? people aren't afraid of obama care or numbers low or what do you think? >> well, health care is kind of -- it did well -- i don't believe there was a month even in the great recession when we were losing 700,000 jobs a month and health care did not add jobs. the job increa
projects like solyndra, exxon is more than profitable, and it puts money back into the economy in the form of nearly $37 billion in energy investments. stop making them out to be the bad guys. like you have other successful americans that take pride in a u.s. company being number one in the world. that's a good thing. coming up next, traders seem to love today's jobs numbers, but were they really all that good? our political panel weighs in, and stocks on a roll, lately, topping numbers not seen since 2007. how long will it last, and how high will they go? coming up. ♪ [beep] [indistinct chatter] [kids talking at once] [speaking foreign language] [heart beating] [heartbeat continues] [faint singing] [heartbeat, music playing louder] ♪ i'm feeling better since you know me ♪ ♪ i was a lonely soul, but that's the old me... ♪ announcer: this song was created with heartbeats of children in need. find out how it can help frontline health workers bring hope to millions of children at everybeatmatters.org. studios in new york city, it's "the willis report" with gerri willis. gerri: beaut
the end. that's for sure. >> oh, yeah. >> john berman, many thanks to you. >>> let's turn to the economy and new and encouraging signs this rng mmorning, more evidenc jobs market is recovering, albeit agonizingly slowly. 157,000 jobs were added last month and later this hour, wall street begins the day a little giddy. the dow celebrating its best january gains since 1994, and it all comes on the heels of president obama disbanding his jobs council, a group of business leaders who advised him on the economy. republicans were quick to seize on the news, scoffing at the white house's handling of the council and the economy overall. >> if the white house spent nearly as much time trying to actually fix the economy as it did claiming it was fixed and then finding excuses and sca scape goats when its premature announcements were false i suspected the economy would be better than it is doing here today. >> christine romans, is he right? the unemployment rate is still what, 7.9% now. >> yes, 7.9%, 157,000 jobs created in january. that's modest hiring. that is an economy that is healing still slo
economies led by china. finally, the fed successfully engineering a modest increase in interest rates without unleashing run away inflation. i know, tall orders. >> this is a tall order, bob. >> but this would create a huge boost of business confidence. capital expenditures and hiring would increase and revenues would rise. finally, sue, on a day when the dow passed 14,000, it is forth while noting that the last time the dow passed 14,000, valuations were much higher with the ratio for the s&p at that time was 22. about 14 right now. what does that mean? well, historic average for the s&p 500 is 15, it means the market was way overvalued, sue, in 2007. today it is somewhat underval i'd. steve pointed this out to me. i think it a very good point. tip of the hat to you, steve. market overvalued then in 2007. not the same market. >> i'm exhausted listening to him. >> it is. somebody has it put the big picture in it and bob did that very nicely. how do you feel about the market at this point. >> it is almost ill logical because they are celebrating that the jobs report is good but not so
straight to how we view this affecting the economy on slide 4. really from a positive side, this will result in construction spending in the near term in san francisco to the tune of about 500 million dollars and in the long run it will make possible for the convention center to accommodate more attendees which will lead to some number of net new visitors in san francisco and increase of visitor spending. to the negative side this has to be paid for and the financing costs both fall in the hotels and on the city which is effectively withdrawing some funds from the local economy. and there is also a repayment risk to the city that we looked at briefly. in terms of the construction costs, again, it's about 500 million dollars over the 2014 to 2019 period and that's fairly easy enough to get an economic impact number for. the visitor spending, however, is slightly trickier so i'll walk you through what we've said about that. that should work, too. thank you. so, according to the consult apartments [speaker not understood] hotels, the attendance at the moscone center is expecte
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the economy faster or put more people back to work. the problem is we have a stalemate in washington. this week, we received the 50 estimate of america's economic growth and it reminded us that bad decisions in washington can get in the waive our economic progress. >> eric: the president blames republicans, the republicans blame the president. who is to blame? both? we have the chair of the foreign pac and outreach director for john mccain for president and a congressman from pennsylvania. ford, you heard the litany from the president. after all, he is the commander in chief. he is the president... in charge? >> the president is the biggest obstac toll private-sector job growth in america right now. he seem, to we can tax, spend and regulate ourselves to prosperity. the private sector is asking for certainty. because the president doesn't want to pass a budget or modernize spending for bietlements. he is the big issue. it is up to him to take a long look in the mirror. i agree that congress has played a role. he needs to stop worrying about destroying republicans and start worrying a
, so we can strengthen our economy, and strengthen our country's future. think about it. we define ourselves as a nation of immigrants. that is who we are, in our bones. the promise we see in those that come here from every corner of the globe, that has always been one of our greatest strengths. it keeps our recourse young, a key to our country on the cutting edge, and helped to build the greatest economic engine the world has ever known. after all, immigrants help to start businesses like google, and yahoo!, they created entire new industries that in turn created new jobs and new prosperity. in recent years, one in four high-tech start-ups in america were founded by immigrants. one in four new small business owners were immigrants, including right here in nevada. folks who came here seeking opportunity and now want to share that opportunity with other americans. but we all know that today we have an immigration system that is out of date and badly broken. a system that is holding us back, instead of helping us to grow our economy and strengthen our middle-class. right now, we have
, is unconscionable. when we turn this economy around, and it will rebound, we need to end hunger now. we may not be able to wipe out all disease, we probably can't eliminate war, but we have the resources, we know what it takes. we need to muster the will to end hunger once and for all. hunger is a political condition. it's important to point out that even though 50 million people were food insecure, the vast majority had a safety net that prevented them from actually starving. that safety ned is called the supplement -- that safety net is called snap. snap is a program that provides low-income families with food they otherwise could not afford to buy. more than 75 million families relied on snap to provide food for their families. it is a lifeline for these 47 million people who struggle to make ends meet. i don't deny this is a big number, but it's a big number because it's a big problem. mr. speaker, america's hunger problem will be dramatically worse without snap. just imagine what this country would look like if we didn't have the safety net that snap provides for low-income families in
in the economy for the first time since 2009. the s & p 500 is up more than 5% so far this month. very, very strong month. >> what can you say? this is a great bull market. it is. i mean, the averages went up big. transports led us, okay. could we go for a breather? it would make sense, but the fed is not stopping. it's not stopping the fed. >> s & p keeps putting out these historical numbers, a 5% gain in january and years like that, just going back to '50, 1950, 31% for the year, 27, 26, 31, 45. i mean, just -- does this year hold that potential. >> hear siegel this morning, i know there's controversy, even on this deck, about -- >> for the long term. >> he did call the top. >> he loved housing you and -- my god, i'm sorry. >> my dad's building, the society of towers. >> since the last time we had the gapes, '07, 12-month forward pe is 15. back then, it was 9. we are not overpriced necessarily, given the run that we had. >> keeps rates down, competition from bonds, not so great. i still can't get over that they preserve thafd dividend low tax rate these are bond equivalents, a lot of stock
they got the majority in the 2010 election. >> it's the economy. liz: david and gains. david: cheryl casone, good to have you here. thank you so much. melissa: i am melissa francis and here's what is "money" tonight. it could be the next california. how close is the breaking point and can the taxman save it? the power panel breaks it down. plus, he's in what is going on in salt lake city lately? a group of doctors declared a health emergency warning premature birth and miscarriag miscarriages. the group's leader joins us with the diagnosis. and unusual hand drawn top nba recruits three high-stakes poker tournament. not sure they make great executives. the man behind the plan joins us exclusively to lay out his cards. even when they say this not, it is all about money. so tonight we start with a huge hit to illinois, the critic has been knocked down from an aide to an a- from credit rating agency. now tied with illinois the lowest rating in the country. is our country going down the drain one state at a time, in what state is next? partner along with charles payne payne. i think that is abe
report, the jobs report was very strong. it showed that 157,000 jobs were added to the economy in january. and sure the number came in a bit soft. what investors were looking at were the stronger revisions higher in november and december for those jobs numbers. so that was encouraging and that really got the dow over that level. but the focus yet today is on dow 14,000 because it's been five years since stocks were at this level and the optimists about this say it shows just how far we've come. >> remember, this? march 1999, the height of the dot com boom, dow hit 14,000 for the first time. >> it was a big deal when we hit 10,000, we gave out hats. these are big psychological levels, they're crescendos. >> fast forward to 2006, the height of the housing boom. dow 12,000. nine months after that, 14,000. but we wouldn't see that threshold again for a long time. the housing market was already crumbling, recession was lurking. now five years later, we're back and the returns staggering. >> reporter: bank stocks buoyed, bounced back. housing stocks through the roof, the rally is driven by you,
about the economy and how it potentially could impact the president's political strength this year going into his second term. 157,000 jobs created in january. you take a look at the -- a lot of jobs created last year. still not moving. the economic growth as much as should -- but if you take a look at the jobs that have been created, you take a look at the dow jones. 14,000, it was under 7,000 when he attack office. how much of a political impact will it have on the president going forward on the agenda? >> i think it is a reminder how the dysfunction in congress could hurt the country going forward. we're not out of this yet, wolf. nothing is robust, as you look at the question of spending cuts, what are you going to do? i think this serves as a reminder that congress needs to get something done. it is just hanging out there. >> you know, it is a low-grade fever, the president is moving very aggressively on his agenda, on immigration, on guns, on the contraception ruling that came out this week. he is speaking on the new coalition -- without economic growth, i mean, that is really the
new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ ♪ [ music ] >> broadcasting across the nation, on your radio and on current tv. this is the bill press show. >> good morning, everyone. this is richard fowler stilling in for bill press on this fine friday morning. the start-off was going to be a grand super bowl weekend. i am pretty sure baltimore is anticipating what could be a win for them this weekend. but in other news i am here filling in for bill, and i am joined by bill's wonderful team who always makes me so welcome. i feel like i am home. >> richard welcome. >> we have peter there. >> there, man. >> dan, phil and cyprian working the cameras and phil getting those calls for us. listen, guys, i have got to tell you, there is a lot of stuff happeni
to the economy that we are not going to like. the headline from last week about the slowing of our gdp, it is going to be a situation where it is no longer acceptable to kick the can. so, when we talk about the need for tax reforms, i am one who says that we have got to put it all on the table. we have got to be willing to make some very difficult choices. the options if we fail to act are not something that most in this country will be satisfied with. >> i know that says you want to take a look at some of the energy initiatives here. in the house they talked about doing energy efficiency legislation puc that moving? still questionable? >> let me just start by saying that i am a firm believer in doing more in this country when it comes to efficiency. it is one of the legs of the energy tool that is absolutely critical to us. i think it is often overlooked. people look -- people look to the old technologies and there are things making news. someone joked to me once that if we could just figure out how to have a groundbreaking or ribbon cutting that involved some kind of energy efficienc
, the budget was lower than when he came in. that is the story now. how did he do that? did the economy grow a lot? unemployment was below 5%. the budget was balanced because of his own parsimony. how did he manage to make the budget go lower? how did that help the economy? it was a lot, he got the government out of the way of the economy. >> the life of the 30th president of the united states, "coolidge," on sunday, 8:00, on q&a. >> "washington journal" continues. host: we are back with congressman mcdermott, the ranking democrat on the house subcommittee. let me read to you from "the national journal bailey," and what they had to say about sequestration -- national journal daily," and what they had to say about sequestration. host: true, accurate reporting? caller: -- guest: as far as what i can tell, that is exactly what is happening. unfortunately for the american people, the leadership on the republican side is still acting as though the election never occurred. they have got to except that the people have said that they once what obama is doing. they reelected him overwhelmingly. and t
. this is what i tell secretary geithner. the time has come, since our economies are connected, for there to be a positive movement in the european crisis, but then i think these budget negotiations, which are not based on simply -- based on human beings and republicans and democrats getting together. i think it is very doable and possible. one thing we have ignored at this meeting, there was an election that just happened, and the message of the election, i believe, is guys, women, you've got to get together, or there is going to be a third party. >> that is one of the reasons we have been having these conversations. >> but it is out now. it is on the cable channels, on the radio, online, in print. what happens now? >> i say i want to get on television with some facts. [laughter] here are few that have come out of this conversation. 16.9% of gdp, that is not because tax rates went down. it is because the economy went down. tax rates -- there is no revenue. [indiscernible] in the years before the collapse, the income as well over 18% of gdp. >> it has been over 18% twice. two y
. look what is going on in the u.s. economy because we got brand new jobs numbers that just came out and they show sluggish hiring in the month of january. the labor department reported that the national unemployment rate jumped a little bit, now 7.9% up from 7.8% from the previous month. that doesn't really include people who decided they wouldn't look for work anymore and dropped out of the workforce for the time-being. the latest report showed employers added 15,000 jobs last month, not enough to really stimulate the economy -- 157,000. or create a new jobs growth picture. bring in fox business network senior correspondent charles gasparino. what is your take on these? >> not uniformly terrible. we added jobs in prior months. revised some of the job additions upward. we did create jobs but what i will tell you is carry about this number the narrative remains the same. this is an extremely slow-growing economy that is producing jobs at a very meager rate. when more people look for jobs unemployment ticks up. a quirk in the numbers. takes too long to explain why. the narrative, mart
you to talk about a very important project for the future of san francisco economy and job creation. the moscone convention center is one of the most popular convention centers in the united states. it's not the largest, in fact it's number 25 on the top convention centers in the country, but it probably generates the most amount of revenue per square foot of any in the country. it is very much in demand and frankly is at capacity. every time we open the new expansion of the center whether first moscone south, then moscone north then west, the building filled to capacity. we're at the point now we have to take the next step. our plans are asking for additional space. some of our larger conventions who generate a large amount of revenue and tax dollars for the city are forced to look at other options, look at other cities because they're outgrowing our facility. as you know, tourism is is a major economic engine for san francisco. in 2011 we had over 16 million visitors. about 40% of those are international visitors and they spent over -- almost $8-1/2 billion in our economy, generat
's too bad. our economy could use some presidential leadership right now. >> house republicans want to force the president to submit a budget that would balance in 10 years. >> they hope to pass it in march unless they come up with a deficit reduction agreement before that. it would hurt readiness maintenance and training and make it difficult for the u.s. to respond to global crises. >> it would bite hard no question. wendell, thanks. >> it's not the kind of news wall street was looking for today. stocks had the worst day of the year. the dow dropped 130 points s&p lost 17 the nasdaq lost 40. president obama turned up the volume on the gun control members today in minnesota where hunting and gun ownership is big business. in an attempt components like the nra the president took his message directly to the people. mike emanuel has the story. >> president obama went to minneapolis for what he hopes to be common sense proposals. he choose minneapolis to spotlight the steps he has taken. >> this city launched a series of youth initiatives that reduced the number of young people injured
light but i think that will improve as economy gradually improves. these guys have a share in home security business. reasonable valuation even though it had a nice move. >> man with a wall clock on his wrist. >> that's right. wall clock right there, baby. amn. february 31 calls short term trade but they are buying up these calls at about four times the open interest. i like the opening trade. >> let's get a quick look at the dow. last trading day of what's been a pretty good month, as you know, for stocks. there it is. dow under 13,900. making a march towards 14. hasn't been able to get there. we will continue to watch that. that does it for us. catch us tonight and on twitter. "power lunch" starts right now. >> "halftime" is over. second half of the trading day starts now. >> scott, thanks very much. knocking them down. which of these two brands do i have personal experience with? the department of justice or anheuser-busch? i ask you, ladies. you can decide. but the government said no to $20 billion beer deal with anheuser-busch and mexico's groupo modello. a huge day for market
about it. he knows how important it is to the economy of this country which has been his number one guiding issue to solve our immigration problem. in a lot of ways not just having the 11 million people come out of the shadows and pay taxes and become productive citizens. we all agree it's absurd we attract the best and the bride is around the world and let them get ph.d.s, m.a.'s and m.a.s from our best universities and then go home and compete against us. it mix no sense. the president understands that and let me tell you he has been terrific on this. this idea that we were jockeying as much or. i spoke to him sunday night and we told them we had come to an agreement and we had a great conversation. what he has done and is playing a constructive role in my opinion. he is rallying the country to do reform and getting us all together. but at the same time he is giving us the space to get something done. i have been very impressed with not only the president's desire to get it done but his ability to work with us as part of the team to get that done. >> every president in their secon
endured white knuckle days the economy tanking, debating along the way, should i keep my money in? do i take it out? dave ramsey travels across the country giving financial advice, he has 5 million radio listeners a week, a giant voice urging boomers near the bottom of the market -- telling them keep their money in. a lot of people think if they take it out they can time the market. >> we were standing in the street corners screaming when everything was going down, don't pull your money out, the only person that gets hurt on a roller coaster are those that jump off. >> reporter: a study says two-thirds of americans plan to delay retirement, rosemary just retired when the market began to drop. she stayed the course on on track, now giving tips to other boomers. but the advice her husband dividend, keeping their 401(k)s. >> he wanted to pull everything out, i hoped it would come back, we decided to leave it there and hope it would come back. >> reporter: who was right? >> theoretically i was, but it's come back about 75%. >> reporter: and look at this tonight, our business unit crunching
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